A Panel Data Test of the Bank Lending Channel in Sweden

Joakim Westerlund

No 2003:16, Working Papers from Lund University, Department of Economics

Abstract: In this paper, we test the bank lending channel of monetary policy transmission in Sweden. Using a panel of bank balance sheet data covering the period 1998:M1 to 2003:M6, we test for bank loan supply shifts by segregating banks by asset size, liquidity and capitalization. The main result is that small, illiquid and undercapitalized banks are significantly affected by monetary policy, which supports the hypothesis of the bank lending channel

Keywords: Monetary Transmission; Bank Lending Channel (search for similar items in EconPapers)
JEL-codes: C33 E42 E52 F42 G21 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2003-11-10
New Economics Papers: this item is included in nep-mon
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Citations: View citations in EconPapers (13)

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